VIA - Earnings call 1 2023 | Via Renewables, Inc.

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Operator

Good morning, ladies and gentlemen. Welcome to the Via Renewables First Quarter 2023 Earnings Conference Call. My name is Melissa, and I will be your operator for today. [Operator Instructions].

As a reminder, this conference is being recorded for replay purposes, and this call will be posted on Via Renewable Inc.'s website. to conference like to now would turn over the Mr. I with Via Rabalais Renewables, Stephen Inc. sir. ahead, go Please

Stephen Rabalais

Thank and also Good the viarenewables.com. Earnings webcast, you. morning, can Investor Call. Quarter Renewables which our This XXXX Relations First section call website located is be being of via welcome broadcast in to at Via

on believe today us urge review Mike our filings. forward-looking Please a be required future that note is events, risk everyone factors which materially. update undertake Barajas. harbor Actual of may by We the statements, Maxwell; this contain release we Keith results result With CEO, of management law. assumptions are SEC our as to to reasonable as may based We statement earnings in today's to statements from as yesterday's in as CFO, except and that discussion no date. our safe well as differ obligation the these

non-GAAP will we refer addition, measures. In GAAP to and financial both

non-GAAP our turn the reconciliations refer Maxwell, release. I'll that, regarding GAAP to With to over yesterday's information to please comparable directly financial our call Keith measures, For most earnings the and CEO. measures

William Maxwell

from to end Stephen. call. Also will of today's ending quarter, up which a reported first more This provide million, an in is by driven financials. our the RCEs to increase the Thank from grew prices by margin XXXX. XX% I the prior In to organically, their I then from due summary X,XXX first base an welcome the first million. was $XX.X results the mainly we Mike increase providing peaks. earnings our the a quarter, the quarter we $XX.X of will falling Barajas, quarter of year quarter, customer you, begin first gross of commodity for adjusted and want CFO, everyone our details EBITDA on

[Audio our Gap] inorganic to The implement acquisitions.

growth. long-term is trend and continue this Our provide to sustainability goal

XX, that made April sheet. strengthening decision flexibility. dividend [Audio manageability common was also better further suspend the made into our financial the on so to a we Board balance decision Looking On Gap] our while made The stock.

cash more provide both the options With for organically will and improved further inorganically. flow

closely are common the timing thoroughly the dividend best Class reinstate to and conditions the evaluate the we on We stock. market monitoring A

to financial continue the company now believe and my prepared ability return. to the concludes shareholder in enhance review. our value We long-term turn of future Mike? over for the This his I'll Mike remarks. call to and

Mike Barajas

of to morning. gas. Keith. gross achieved decreased year's due first quarter, margins, year. with power in both volumes In quarter Retail million to Thank last $XX.X gross was by natural margin margin the million million for last first you, $XX.X we offset $XX.X EBITDA compared retail unit for higher The and $XX.X increase adjusted the was million. compared Good primarily in quarter

segment, electricity commodity $XX.X volumes year. retail to to first was due decreasing the partially lower our gross by margin higher quarter last year-over-year. million This margins caused In compared unit by in $XX.X offset prices, million was

quarter marketing due sales first gross prices gas compared $XX.X partially to of expenses margins the through ramped also in and offset quarter to to unit In increase attributable in expenses different were margin primarily variety our decrease result a higher compared we $XX.X volumes. of a million last in up was first as a million increases G&A channels. higher year, the million year. sales by the last $XX.X and million natural sales to segment, $XX.X in commodity in of This decrease retail was as

Total compared RCEs for first the $XXX,XXX were quarter to $XXX,XXX XXXX. of

customer due acquisition first the to increased of from Our slightly up quarter our is attrition XXXX X.X% in efforts. X.X% of

the hedges to due retail in on we a for in of $XX diluted reduction place of put quarter XXXX. of XXXX, the fully share our first loss of mark-to-market $X.XX our net of fully mainly or $X.X margins share loss net that contracts. million on For is or million decrease $X.XX to a The income per per quarter we the first a compared lock in diluted recorded to

On partially expense This reduced tax million by of amortization to the tax We We first $XX.X and XX. announced per Series XXXX share of That's March respectively. be paid April On of this XX, to mark-to-market dividends have. depreciation expense. loss an dividends of a offset July benefit a million year we all preferred was on XXXX. on preferred income quarter on XX, Keith. stock in ago. million the XX Back $X our to of cash you, A quarter and and recorded we our compared stock I $X mark-to-market compared first quarterly common paid gain and a an in April stock, quarter A $X.XXXXX income Class million had of $XX.X to

William Maxwell

Mike. Thanks,

in dedication on and call. and always, supporting Via their forward to their support. As to you. Via our want look our as want for for with I suppliers our for growing their I to Thank employees thank connecting we provider, to energy customers care continued us and next and choosing thank you

Via Renewables (VIASP) 4 May 232023 Q1 Earnings call transcript